SMIC(SH:600810) Zheng Quan Zhi Xing·2025-07-31 16:37Summary of Key Points Core Viewpoint - The company, Shennong Industrial Co., Ltd., is providing guarantees for its subsidiary, Zhongping Shennong Jiangsu New Materials Technology Co., Ltd., to support its financing needs, which reflects the company's commitment to its subsidiary's operational stability and growth potential [1][2]. Group 1: Guarantee Details - The total guarantee amount provided by the company for Zhongping Shennong is 60.2 million RMB, with an actual guarantee balance of 108.2 million RMB [1]. - The company will provide a joint liability guarantee of 24.2 million RMB for a loan of 41.5 million RMB from Industrial and Commercial Bank of China [2]. - Additionally, the company will provide a guarantee of 36 million RMB for a loan of 60 million RMB from Huaxia Bank, reflecting its support for the subsidiary's financing needs [4]. Group 2: Financial Overview of the Subsidiary - Zhongping Shennong has total assets of 317.13 million RMB and total liabilities of 213.91 million RMB, resulting in a net asset value of 103.22 million RMB [3]. - The subsidiary reported an operating income of 117.90 million RMB and a net loss of 6.26 million RMB for the first quarter of 2025 [3]. - The company holds a 60% stake in Zhongping Shennong, while Nantong Pengfa holds the remaining 40% [3]. Group 3: Board Approval and Decision-Making - The company's board of directors approved the guarantee proposal with a unanimous vote of 9 in favor, indicating strong support for the decision [5]. - The total external guarantee amount after this transaction will reach 530.61 million RMB, exceeding 50% of the company's latest audited net assets [2][5]. - The guarantee is deemed necessary and reasonable, as it aligns with the company's overall interests and allows for effective control over the subsidiary's operations [4].